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AI Built for CRE

 |  18 June 2024

By Tom Wallace, CEO of Re-Leased 

Re-thinking the Management Principles of Commercial Property with AI.

In 2013, Re-Leased set out to shake up the management of commercial real estate. Despite being one of the largest asset classes in the world, commercial real estate lagged behind in adopting modern technology. Recognizing this gap, we decided to take action. Our journey began with pioneering cloud solutions, mobile applications, automation then insights — providing property managers, tenants, and landlords with the tools they needed to thrive in the digital age. 

Today, we are proud to introduce the next phase of our journey: Credia AI. 

Understanding the Needs of Our Industry 

Before diving into developing AI tools, we sought to understand how the commercial real estate industry and our customers perceive AI, and more importantly, how we could build AI tailored to their needs. We reached out to industry professionals worldwide, and four common themes emerged: 

  • Understanding AI Benefits: Many find the benefits of AI difficult to grasp. Only 25% actively use AI to enhance their day-to-day operations. The challenge lies in demonstrating the real value of AI. 
  • Challenges in AI Roll-out: There's significant concern about how to effectively roll out AI across businesses. Given the novelty of AI and the difficulty in understanding its benefits, it’s challenging to know which technologies to adopt and how to train teams on them. 
  • Quality Control Risks: There's a real risk that using AI incorrectly can compromise the quality of their team's work. Poorly implemented AI can lead to strange behaviors and inauthentic results. 
  • Data Privacy Concerns: Concerns about data handling and usage are paramount. Safe stewardship of tenants', owners', and suppliers' data is crucial for maintaining reputation. 

The Genesis of Credia AI 

Credia AI was born from our mission to create a platform that does more than just help you work — it actually does the work for you. Over the past decade, we’ve focused on innovation, automating workflows, and providing deep data insights. But we knew we could go further. 

Credia AI is now the AI-powered brain of our platform — a monumental leap forward for Re-Leased and our customers. By automating routine tasks and providing smart insights, we are making property management 10 times faster. This allows for greater operational capacity to serve a growing number of tenants without increasing overhead, providing a significant competitive advantage. For example, processing an email from a tenant to create a maintenance job, work order, or reminders, which previously took over five to six minutes on average, can now be completed in just 30 seconds. This is not just about saving time; it is about unlocking new levels of productivity and accuracy. 

Credia AI integrates seamlessly into users' workflows, eliminating the need for significant behavior changes. This ease of integration is crucial. We understand that even the most powerful tool is ineffective if it disrupts the way people are used to working. Our goal is to provide a solution that enhances, rather than hinders, daily operations, with full control over core actions before they happen. 

"The integration of AI functionality into the product is undoubtedly the best I have seen to date, and I am excited to see it evolve." - Will Alexander, Director of Property Management, Bayleys Real Estate. 

Three Pillars of Credia AI 

Credia AI is built on three main pillars: Extract, Action, and Advise. 

  • Extract: This involves taking all the unstructured data like emails, calls, invoices, physical leases, and contracts, and turning it into structured, usable information. By automating this process, we ensure you always have accurate, up-to-date data at your disposal, incredibly fast. 
  • Action: Once the data is structured, Credia AI takes it further by automating tasks for you. Whether it’s creating maintenance tasks, managing compliance, or handling rent reviews, Credia AI performs these actions quickly and accurately, freeing you up to focus on more strategic work. 
  • Advise: This is where Credia AI really shines. By understanding your data, local laws, and market conditions, it can offer intelligent insights and proactive advice. Whether you need guidance on setting up a budget or handling a tax question, Credia AI is there to help. 
What This Means for You 

The introduction of Credia AI is a major milestone for Re-Leased and a huge win for the entire commercial real estate market. By automating routine tasks and providing smart insights, Credia AI allows property managers, landlords, and tenants to operate more efficiently and effectively. This leads to better-managed properties, happier tenants, and more profitable investments. 

On a broader scale, as more businesses adopt AI-driven solutions, we’ll see a positive ripple effect throughout the industry. Increased transparency and data-driven decision-making will become the norm, raising the bar for everyone. 

Looking to the Future 

While Credia AI is already making a big impact, this is just the beginning. Our vision is to keep evolving and enhancing Credia AI, making it an indispensable part of your toolkit. We’re committed to listening to your feedback, understanding your needs, and delivering solutions that exceed your expectations. 

At Re-Leased, we believe that the true power of technology lies in making our lives easier and our businesses more successful. Credia AI is a testament to this belief, and we’re excited to share it with you. Together, we’re not just keeping up with the future — we’re shaping it. 

Explore Credia AI Today

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